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Friday, Sep 22, 2023
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.


Clever Leaves ships first cannabis extracts to Switzerland

Clever Leaves and its Swiss distribution partner Astrasana are also planning to distribute the extracts in the Czech Republic

Clever Leaves ships first extracts to Switzerland and prepares to supply Czech Republic
Cannabis extracts. Image via Clever Leaves

The multinational company Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) has expanded its global footprint by making its first-ever cannabis shipment to Switzerland.

The company announced on Tuesday that its Swiss distribution partner Astrasana Holding AG had received the shipment containing medical cannabis extracts.

Clever Leaves and Astrasana are now planning to further expand distribution of the extracts into the Czech Republic as well. Astrasana has a medical cannabis pharmacy and pharmaceutical operations there.

“Clever Leaves’ first commercial shipment of medical cannabis extracts to Astrasana in Switzerland marks a significant step towards our goal of expanding patient access to high-quality medical cannabis across Europe and beyond,” said Andres Fajardo, CEO and Co-Founder of Clever Leaves.

“The supply agreement guarantees Astrasana a reliable and consistent supply of medical cannabis extracts at competitive prices, providing planning certainty and allowing for seamless operations,” said Astrasana’s CEO Yves Antoniazzi.

Read more: Clever Leaves sends first cannabis shipment to Portugal

Read more: Switzerland approves more adult-use cannabis pilot projects

Swiss authorities recently approved a cannabis pilot project assessing the health and social impacts of pot sales that will be led by the universities of Bern and Lucerne. The Czech Republic is planning to regulate adult-use cannabis and is currently in the process of drafting an applicable bill to do so.

Clever Leaves also recently completed its first cannabis shipment to Portugal containing EU-GMP-certified CBD extracts that were received by SOMAÍ Pharmaceuticals.

In mid-May, Clever Leaves received GMP certification from authorities in Brazil enabling the company to distribute medical cannabis in the country.

In addition to its Swiss headquarters and pharmacy in the Czech Republic, Astrasana also has subsidiaries in Belgium, Germany and Japan.

Clever Leaves’ shares dropped by 1.81 per cent Tuesday to US$0.25 on the Nasdaq Stock Exchange where they have been on a steady decline for the past six months, dropping by 45.65 per cent.


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